Representatives from an independent accounting firm informed members of the Elk River Area School Board that the district business operation is well-managed and consistent with national accounting standards.
The report also noted the district continues to make significant progress in improving financial practices.
This is the third consecutive year that the district has received a favorable independent audit.
The public accounting firm of Malloy Montague, Karnowski, Radosevich, & Co., P.A. (MMKR) recently completed the district’s financial audit for the year ending June 30, 2011.